03.11.2014 18:27:00

Laboratory Corporation of America Holdings -- Moody's affirms LabCorp's rating on Covance acquisition announcement; outlook negative

New York, November 03, 2014 -- Moody's Investors Service today affirmed Laboratory Corporation of America Holdings'(LabCorp) Baa2 senior unsecured rating, and changed the outlook to negative from stable. The affirmation and outlook change follow today's announcement that LabCorp has signed a definitive agreement to acquire Covance, Inc. for approximately $6.1 billion. Moody's understands that the transaction will be funded with a combination of equity, cash and new debt. Management expects the transaction to close in the first quarter of 2015.

Vollständigen Artikel bei Moodys lesen